I actually spoke with someone this week who has good credit, a solid work history with a good income, quite a bit of liquid savings and a real desire to own his own home, but he "is waiting for interest rates to drop." Seriously.
He's waiting until "the tide has clearly turned and things are in solid recovery" before he buys. If he waits until he sees solid recover, he'll have missed the boat, because the evedence he's seeking is the success of others, and by the time he's ready to go, he'll have missed the best opportunites in the market.
If you've been "waiting for the bottom of the market," before making the investment in your own home, I have news for you... look in your rear view mirror to find it. And if you're looking for interest rates to drop further, you'll need a set of magic spectacles in order to see it happen.
http://bit.ly/wJLVNv
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